The company said the approval gives it the ability to offer an expanded set of government product offerings plus it now has the ability to service government loans when they are issued into Ginnie Mae securities.
“Having Ginnie Mae approval strengthens our competitive position within the market and allows our loan originators to offer a wider variety of loan products at competitive rates,” said Eric Egenhoefer, president and CEO of Waterstone Mortgage.
It will participate in the Ginnie Mae I and Ginnie Mae II programs.
Egenhoefer founded Waterstone in 2000. It now has over 600 employees in 15 states. The company has annual origination volume of $1.8 billion according to its website.
Earlier in August, LenderLive Network, Denver, became an approved Ginnie Mae issuer.